Accepting bachelor offer whilst waiting for a Master

[u/ButterscotchIll2827]

Hi! I was wondering someone could please help me.
I applied for a Masters directly with USYD and was put on the waitlist and was told I will be considered in future rounds. I also applied for the bachelors program in case I don’t get accepted into the masters, and I recently was offered a place for it (this one was applied through UAC)

Question: if I accept the bachelors for now as a back up, would I still be considered for the Masters? I don’t want to lose my place in the waitlist. The Masters is my first preference